Axecap Investments LLC Invests $689,000 in Cincinnati Financial Co. (NASDAQ:CINF)

Axecap Investments LLC acquired a new position in Cincinnati Financial Co. (NASDAQ:CINF) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 5,060 shares of the insurance provider’s stock, valued at approximately $689,000.

Several other hedge funds also recently made changes to their positions in the business. Hartford Investment Management Co. grew its stake in shares of Cincinnati Financial by 0.8% in the 3rd quarter. Hartford Investment Management Co. now owns 10,168 shares of the insurance provider’s stock worth $1,384,000 after purchasing an additional 80 shares during the last quarter. Weaver Capital Management LLC grew its stake in shares of Cincinnati Financial by 9.6% in the 3rd quarter. Weaver Capital Management LLC now owns 4,086 shares of the insurance provider’s stock worth $556,000 after purchasing an additional 358 shares during the last quarter. Eastern Bank acquired a new position in shares of Cincinnati Financial in the 3rd quarter worth approximately $168,000. Sequoia Financial Advisors LLC grew its stake in shares of Cincinnati Financial by 3.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,726 shares of the insurance provider’s stock worth $371,000 after purchasing an additional 102 shares during the last quarter. Finally, Venture Visionary Partners LLC boosted its holdings in shares of Cincinnati Financial by 0.5% in the third quarter. Venture Visionary Partners LLC now owns 18,329 shares of the insurance provider’s stock worth $2,495,000 after buying an additional 97 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

CINF stock opened at $138.88 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market cap of $21.74 billion, a P/E ratio of 9.24, a P/E/G ratio of 2.62 and a beta of 0.66. The firm has a 50 day simple moving average of $135.69 and a 200 day simple moving average of $125.00. Cincinnati Financial Co. has a 52 week low of $96.86 and a 52 week high of $142.25.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.29 EPS for the quarter, topping the consensus estimate of $0.96 by $0.33. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company posted $1.21 earnings per share. Research analysts anticipate that Cincinnati Financial Co. will post 6.58 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.56%.

Wall Street Analysts Forecast Growth

CINF has been the subject of several recent analyst reports. Citigroup upgraded shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $126.00 to $135.00 in a report on Friday, June 28th. Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $146.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Roth Mkm raised their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Bank of America raised their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Cincinnati Financial has an average rating of “Moderate Buy” and a consensus target price of $136.29.

Cincinnati Financial Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.